Retail Intelligence and Investor Services

We are trusted advisors that help retail businesses transform by applying intelligent, data-driven, and strategic analysis:

• Consumer and Market Analysis: We perform custom primary consumer and market analyses to understand consumers as well as the size, structure, and competitive market dynamics of retail-driven industries. We leverage our network, proprietary tools and internal market and consumer research techniques to provide timely and critical information and insights on the retail industry.
• Competitive Landscape Review: We perform competitor analysis across all channels, including field visits to brick-and-mortar stores, mobile, social and website audits. We build relevant, detailed case studies examining the business model and success factors for competitors and close-in companies that may become considered as strategic add-ons.
• Real Estate Analysis and Expansion Potential: We utilize the world’s leading mapping and location analytics platform to understand the spatial and demographic relationships underpinning retail properties. We leverage location analytics to assess the strength of the physical store portfolio, identify success factors across sites, and investigate the potential for new locations.
• Presentations and Speaking Engagements: We deliver keynotes, presentations, and immersive workshops to help businesses stay on the cutting edge of advancements in next generation retail. Our exceptional leadership team regularly delivers speeches, participates on panels, and facilitates workshops on the new realities of the global retail marketplace, consumer trends and retail innovations.
• Study Tours: We track innovative concepts and consumer trends to curate customized experiences that ignite inspiration. Our bespoke study and trend tours are designed to expertly guide clients through the latest trends and best practices in retail. Our custom tours are fully tailored to individual client needs.
• Expert Witness: We advise legal counsel and retail executives in support of important litigation impacting the retail industry and have worked with counsel in proceedings being brought by parties at the state and federal level. Our team of retail professionals provides expert testimony in all facets of disputes including discovery, expert report preparation, deposition, and trial testimony.

Our clients count on us for an objective, expert perspective. We have a long and successful track record supporting investors with due diligence assignments for consumer-driven companies. We assist in assessing acquisition opportunities, supporting strategic growth plans post-acquisition, and telling partner companies’ stories to advance sell-side opportunities. From consumer and market research to real estate and competitor and vendor analysis, our team delivers a full suite of investor services. In addition to our main retail intelligence services, we commonly assist investors in the following ways:

• Internal Company Assessment. We conduct interviews with the target company’s management to better understand the history, priorities, core competencies, and motivation behind the business and future plans.
• Industry Knowledge. We conduct expert interviews with key suppliers and industry experts to better understand category dynamics and strategic growth opportunities as well as the target company’s perceived strengths, weaknesses, threats, and opportunities in the eyes of industry stakeholders.
• Retail Account Analysis. We speak with retail stakeholders and visit key retail accounts to understand how acquisition target brands are positioned and merchandised in physical and digital environments. These interviews and visits can be conducted blind or on behalf of the brand to yield insights on how the target company performs and how it can improve post-acquisition.
• Website Analytics and Systems Review. We assess the performance and relative maturity across digital properties. We benchmark against competition and work to understand key metrics around visitation, conversion, satisfaction, and loyalty, as well as qualitative elements around user experience.

Our team leverages the combined power of our retail expertise and creative insights to unlock new opportunities and enable more informed decision making when investing in the retail industry.

SELECTED CASE STUDIES

Case 1 — Heritage Men’s Apparel Brand: Retail & U.S. Entry Strategic Due Diligence

A heritage men’s apparel brand with an established retail footprint across two home markets and a growing ecommerce presence engaged a private equity buyer to evaluate the brand’s retail durability and U.S. expansion potential. The diligence scope focused on two core questions: how resilient and competent were the brand’s retail operations at home, and was a profitable U.S. entry feasible and by which routes to market?

The assessment combined management interviews, site visits, competitive benchmarking, online consumer research and a rigorous internal performance analysis. The retailer demonstrated strong unit economics — roughly $1.1M sales per store, over $400 per square foot, and unit-level EBITDA near 18% — driven by high gross margins and tight expense control. The ownership/management team was highly engaged and operationally effective. However, we identified clear risks: newer and mall-based units produced lower returns (consistent with maturity effects but also tied to suboptimal real-estate choices and personnel), and the ecommerce business, though well-executed, would require substantial investment in paid acquisition and analytics to scale.

Recommendations stressed disciplined site selection and elevated personnel standards for new openings, a phased U.S. market-entry plan tailored to format (wholesale vs. flagship vs. concessions), and a structured investment in ecommerce marketing and analytics to measure acquisition cost and lifetime value. We also recommended explicit maturation KPIs for new stores and a playbook for converting strong home-market performance into repeatable U.S. store economics.

Result: The diligence concluded the brand has a credible expansion story. With targeted operational improvements, disciplined real estate and people decisions, and investment in ecommerce scale and analytics, the company could expand profitably into new geographies while managing downside risk.

Case 2 — Multi-Strategy Investment Firm: Ecommerce Cycling Brands Due Diligence

A multi-strategy investment firm asked for a consumer- and market-focused buy-side diligence to evaluate multiple ecommerce cycling brands under consideration for acquisition. The investor’s objective was to understand the U.S. cycling-enthusiast consumer, gauge competitive positioning across five target brands, and produce prioritized, actionable recommendations to inform the investment thesis and post-close value creation.

The workplan integrated market and industry analysis, two quantitative surveys (a category-active external panel and blended internal-customer samples), competitive customer-experience audits, persona segmentation, and executive interviews. The surveys measured awareness, consideration, preference, Net Promoter Score, perceptual ratings and buying intent; persona work added nuance to acquisition and retention levers for distinct customer types.

Findings delivered a granular outside-in view: the U.S. cycling category features clear segmentation by discipline and intent, and distinct brand differentiators mattered for consideration sets. The research flagged where digital acquisition economics could drive scalable growth, pinpointed channel and product behaviors, and identified weaknesses in analytics and operations that would blunt scale if unaddressed. In particular, private-label opportunities emerged as a material margin lever where brands possessed sourcing or product design advantages; omnichannel experiments (selective physical testing or pop-ups) appeared as viable ways to improve customer lifetime value and acquisition efficiency. Operationally, a number of targets lacked mature analytics and repeatable paid acquisition playbooks — important remediation items for post-close integration.

Outcome: The diligence enabled the investor to rank targets on consumer health and growth potential, craft a value creation roadmap emphasizing marketing investment, analytics capability and private label programs, and define realistic integration scenarios and KPI thresholds. The result materially de-risked the acquisition choices and provided a prioritized blueprint for realizing upside post-close.

Case 3 — Private Equity Firm & Vehicle Protection Product Manufacturer: Consumer Category Study

A private equity sponsor and a leading manufacturer in the vehicle protection product (VPP) category sought consumer insights to shape strategy and evaluate a potential adjacent acquisition. The target manufacturer sells car covers, dash and seat covers, sunscreens and other custom-fit accessories, and needed a fact-based view of category demand, brand strength and cross-ownership opportunity.

McMillanDoolittle ran a robust quantitative program (~1,500 respondents) and complementary qualitative research to profile product owners and prospective buyers across VPP subcategories. Analysis focused on category penetration, top-of-mind brand awareness, NPS and product perceptions (durability, fit, perceived quality), as well as cross-category ownership and purchase intent.

Key findings were instructive: although unaided awareness across the category skewed concentrated (one national brand dominated top-of-mind recognition), the client’s brand exhibited unusually strong advocacy and high NPS among those familiar with it, scoring near the top on perceived durability and fit. Covering owners tended to own a broader set of VPP items — on average owning far more category products than non-owners — which indicated superior category depth and higher cross-sell potential. The primary constraint to faster growth was awareness and product education rather than product quality.

Recommendations prioritized a targeted brand-building program and educational marketing to translate high advocacy into broader penetration, a focused plan for expanding into adjacent categories (e.g., floor mats) supported by the acquisition rationale, and merchandising and DTC funnel improvements to convert advocacy into repeat purchase. The sponsor used the findings to refine acquisition rationale, build a go-to-market plan for cross-sell, and prioritize media and product investments.

Case 4 — Global Grooming Tools Manufacturer: Ecommerce Acquisition Diligence Framework

A global grooming-tools manufacturer sought a scalable ecommerce acquisition playbook to accelerate digital leadership by acquiring ecommerce talent, technology and demand-generation capability. The assignment framed a buy-side ecommerce diligence and integration playbook to identify target profiles, evaluate readiness, and define post-close capture plans.

The diligence framework combined brand and market assessment, consumer research, digital commerce performance audits, fulfillment-center and operations visits, paid-media and creative audits, website/UX benchmarking and executive interviews. From prior similar engagements, recurring themes emerged: digital growth can be accelerated through investment in top-funnel acquisition and analytics, physical retail (selective store pilots) can broaden reach if supported by geo-spatial market analysis, and private-label programs can materially boost margins where targets have sourcing or manufacturing advantages.

For the grooming category specifically, the framework prioritized: (1) demand-generation capability and acquisition economics (CAC, ROAS, funnel conversion), (2) end-to-end ecommerce operations and scalability (fulfillment, returns, customer care), (3) technology and analytics maturity (data architecture, attribution and LTV modeling), and (4) integration risk (organizational design—centralized vs regional ecommerce leadership). The deliverables included a decision-ready scorecard, KPI thresholds for attractive assets, an integration playbook with prioritized remediation items, and suggested organizational models to capture scale.

Outcome: The diligence approach provided the manufacturer with a clear target profile (capability thresholds across marketing, technology and operations), a prioritized list of levers to extract value post-acquisition, and an executable integration plan to realize scale and margin improvement. The framework drew on multiple prior buy-side engagements to establish realistic KPIs and playbook steps.

Case 5 — Market-Leading Home-Décor Manufacturer: Big-Box Retail POS Innovation & Current-State Assessment

A market-leading home-décor manufacturer with a major big-box retail relationship sought to transform its point-of-sale offering and in-store selling system to drive category share and deepen retailer partnership. The brief asked for a concept that was consumer-centric, testable in big-box environments and scalable across national accounts.

The engagement began with a discovery and inspiration phase: a current-state customer-journey assessment in big-box settings, competitive benchmarking, a retail study tour to observe breakthrough concepts, internal performance analysis, and stakeholder workshops. The diagnosis found that the category was ripe for transformation: complex buying journeys, insufficient digital enablement at the POS, and a gap between in-store advice and back-end fulfillment and service. The client’s relationship with major retailers provided a strong platform to pilot differentiated experiences.

We proposed a three-step approach — Discovery & Ideation, Build & Test, and Operationalize & Scale — anchored in consumer testing, business-case development and an operating model describing people, technology, fulfillment and customer care needs. Tangible recommendations included simplified in-store selling flows for complex custom products, tied digital tools to guide selection and measurement, a modular POS concept to ease retailer adoption, and a cross-functional operating model to manage roll-out and measurement.

Expected outcomes were clear: testable POS concepts that lift conversion and average order size, a roadmap for retailer sell-in and phased rollout, and an operating plan that defined costs, success metrics and capability gaps. The initiative gave the manufacturer a pragmatic path to convert category leadership into measurable share gains within big-box retail.

Case 6 — Specialty Educational Toy Retailer: Strategic Consumer & Retail Due Diligence

A growing specialty educational toy retailer with an ecommerce-first heritage, a small but strategic brick-and-mortar footprint, and a mixed revenue model (direct-to-consumer ecommerce, wholesale distribution, and fledgling retail stores) engaged a private-equity buyer to assess market position, customer loyalty, retail viability and scalability.

The scope combined quantitative customer research, website and ecommerce benchmarking, management interviews, retail field visits, and a capabilities assessment. McMillanDoolittle fielded a large customer survey of recent buyers to profile shopping behaviors, satisfaction drivers and competitive dynamics, and audited the retailer’s stores and web properties against best-practice niche ecommerce competitors.

Key findings painted a nuanced picture: the retailer enjoyed extraordinarily high customer satisfaction and loyalty — an NPS among the highest observed (+86) — driven by a clear value proposition (high quality, educational focus and strong customer service). Customers skewed toward older, value-oriented buyers (including grandparents) who prized product quality and educational benefit. However, the market context was brutally competitive (Amazon dominates toy shopping), and the company’s growth would require materially different capabilities across functions. Capability gaps included brand marketing and consistent cross-channel messaging, customer analytics and campaign management, site and assortment merchandising, inventory and vendor management, packaging/private-label capability, and logistics for international shipping. Stores worked hard and integrated online with in-store experiences, but retail economics were sensitive to location and assortment choices; store expansion could be accretive only with disciplined site selection and retail fundamentals. Operationally, the business relied heavily on home-grown systems and needed professionalized infrastructure and specialist hires.

Recommendations focused on prioritizing ecommerce scale and analytics investment, a focused brand-building program to translate advocacy into broader awareness, a staged retail expansion playbook (selective pilot openings with tight KPIs), and recruiting/partnering to fill functional gaps (marketing, merchandising, supply chain).

Result: the diligence provided the sponsor with a clear investment thesis — demonstrating defensible customer advocacy and product differentiation while identifying the concrete capability and investment roadmap required to scale profitably.

Case 7 — Fast-Growing Women’s Apparel Retailer: Portfolio Review & Growth Readiness Assessment

A fast-growing women’s apparel retailer (multi-channel: stores, ecommerce and a complementary subscription/styling channel) engaged a third-party assessment in preparation for a potential ownership transition. The sponsor wanted an independent view of market positioning, consumer profile, store productivity and the viability of continued store roll-out versus focusing on digital growth.

McMillanDoolittle delivered a multi-workstream engagement: market and competitive analysis, customer segmentation and primary research, a store-visit program across trade areas, ecommerce and UX diagnostics, and an operating/capability assessment. Fieldwork included comparative store visits to evaluate format consistency, merchandising, and customer experience across mall and lifestyle center footprints. The analysis also reviewed recent growth (historical revenue and store counts) to understand the business lifecycle and potential exit timing.

Findings showed a compelling brand proposition: the retailer had built a differentiated in-store experience focused on style curation and service, and stores in strong locations were highly shoppable even at modest square footage. Historical performance evidence suggested meaningful scale—revenue and store counts had expanded rapidly over a multi-year period—creating a timely opportunity to consider transition. However, growth introduced tension: not all location types performed equally (mall versus lifestyle center tradeoffs), and there were gaps in customer analytics (we still lacked a definitive, modernized profile of the core customer beyond basic demographics). The enterprise needed improved digital capability to win younger, more digitally native shoppers and a clearer geographic site-selection rubric for profitable expansion. Merchandise clarity, store presentation consistency, and stronger omnichannel measurement were further areas for investment.

Recommendations included building a data-driven customer profile and acquisition funnel, tightening store format and merchandising standards for rollout, prioritizing investments in digital marketing and customer lifecycle analytics, and stress-testing a conservative store expansion plan tied to explicit productivity thresholds.

Result: the sponsor used the assessment to refine the go-to-market roadmap, set investor expectations for growth and profitability, and define capex and talent priorities required to support either a sale or continued scale-up.